Principle of Utmost Good Faith in Insurance


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question 1 of 3

The doctrine of utmost good faith is _____.

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1. In insurance, what is a representation?

2. What does a disclosure require the parties to provide to one another?

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About This Quiz & Worksheet

This quiz and worksheet tests your understanding of the utmost good faith principle and what it means in the insurance industry. You'll review what a representation is and what it requires of both parties.

Quiz & Worksheet Goals

This quiz and worksheet reviews what you know about:

  • What the doctrine of good faith is
  • Defining representation
  • What a disclosure requires parties to provide each other
  • Types of warranties and what they do

Skills Practiced

  • Knowledge application - review what you know about the doctrine of good faith to answer a question about it
  • Interpreting information - verify that you can read information about the requirements for disclosures and interpret it correctly
  • Information recall - see if you are able to remember the type of warranty that is included in the contract

Additional Learning

You can find a lot more insight on this topic in the lesson, Principle of Utmost Good Faith in Insurance. This lesson reviews more details about:

  • The Latin name for the doctrine of utmost good faith
  • Two parties involved in insurance contracts
  • The information in the insurance policy
  • What a misrepresentation is and how it can void a contract
  • Understanding disclosures
  • The different types of warranties
  • What happens when a party breaches a warranty